Audit recommendations include improvements to accounting controls and procedures, how fire insurance recovery monies are handled, and better accounting for city property
Jefferson City, MO (STL.News) Missouri State Auditor Nicole Galloway has released an audit of the Office of the Comptroller as part of the ongoing, comprehensive audit of the City of St. Louis. The Comptroller, who is the chief financial officer for the city, is responsible for all city fiscal affairs, including the city’s property, assets and claims. The report, which gave the Comptroller a rating of “good” made recommendations for improving accounting, property, and escrow monies procedures.
The audit found that the Comptroller’s office has not established sufficient controls or procedures for receipting, recording, reconciling and transmitting monies. The audit also found the Comptroller does not have adequate procedures in place to ensure that disbursement vouchers submitted by county officials are sufficiently reviewed prior to processing and new vendors are properly verified.
The audit also found concerns with fire insurance recovery money held in escrow, which are restricted funds held for property owners until remediation is complete. In some cases, the office could not explain why money being held in escrow had not been returned to property owners. The audit also found that the Comptroller’s office did not have adequate controls or procedures to account for city property.
In 2018, Auditor Galloway accepted the request by the Board of Aldermen to complete a comprehensive, independent audit of the City of St. Louis. That request came after a group of St. Louis residents initiated a petition drive to require an audit of the city. For more information on the ongoing audit of the city, visit auditor.mo.gov/STLAudit.
The complete audit of the City of St. Louis Office of Comptroller can be found CLICKING HERE.